Hearing adjourned to consider fresh information

THE High Court has adjourned attempts by the country’s financial watchdog to put a beleaguered insurance firm, owned by tycoon Seán Quinn, into permanent administration.

Lawyers for the Financial Regulator told a Dublin court they had received fresh information from Quinn Insurance and asked for a one-week delay.

John Hennessy, senior counsel for the regulator, said officials received a lengthy affidavit from the company yesterday morning. “While it does not appear to go in substance into several of the very serious concerns of the regulator in this matter, it nevertheless merits careful consideration by the regulator and a response,” the lawyer said.